MCGRAW HILL FINANCIAL INC NEW YORK, Nov. 2, 2015 /PRNewswire/ -- Four Corners Property Trust Inc. (NYSE: FCPT) will replace Approach Resources Inc. (NASD: AREX) in the S&P SmallCap 600 after the close of trading on Tuesday, November 10. Four Corners Property Trust will be added to the S&P 500 for one day after the close of trading on Monday, November 9 on a zero price basis, reflecting its spin-off from S&P 500 constituent Darden Restaurants Inc. (NYSE: DRI). Approach Resources is ranked near the bottom of the S&P SmallCap 600 and is no longer appropriate for that index.
Four Corners Property Trust, a real estate investment trust (REIT), will be primarily engaged in the ownership, acquisition, and leasing of restaurant properties. Headquartered in Orlando, FL, the company will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Specialized REITs Sub-Industry index.
Following is a summary of the change:
S&P 500 INDEX - November 9, 2015
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COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
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ADDED Four Corners Consumer Discretionary Restaurants
Property Trust
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S&P 500 INDEX - November 10, 2015
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COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
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DELETED Four Corners Consumer Discretionary Restaurants
Property Trust
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S&P SMALLCAP 600 INDEX - November 10, 2015
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COMPANY GICS ECONOMIC SECTOR GICS SUB-INDUSTRY
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ADDED Four Corners Financials Specialized REITs
Property Trust
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DELETED Approach Energy Oil & Gas Exploration &
Resources Production
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Additions to and deletions from S&P Dow Jones Indices do not in any way reflect an opinion on the investment merits of the companies involved.
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